Social Welfare (Pay-Related Benefit) Act, 1973
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Advances to Social Insurance Fund by Minister for Finance. |
14.—(1) During the period of five years beginning on the date of commencement of section 3 of this Act, the Minister for Finance may, out of the Central Fund or the growing produce thereof, advance any sums required to discharge the liabilities incurred by the Social Insurance Fund arising from the provisions of this Act and for the purpose of providing the sums to be so advanced the Minister for Finance may borrow money in such manner as he may think proper and all moneys so borrowed shall be paid into the Exchequer. | |
(2) Any sums advanced under the foregoing subsection together with interest (if any) thereon at such rate as may be fixed by the Minister for Finance shall be charged on and be repayable out of the Social Insurance Fund and when so repaid shall be paid into the Exchequer. | ||
(3) The principal of and interest on any securities issued by the Minister for Finance for the purpose of borrowing under this section and the expenses incurred in connection with the issue of such securities shall be charged on and payable out of the Central Fund or the growing produce thereof. | ||
(4) Section 39 (9) (b) of the Act of 1952 is hereby amended by the addition of “but for such purposes any expenditure arising from the provisions of the Social Welfare (Pay-Related Benefit) Act, 1973, and such income from pay-related contributions under that Act as is used to meet that expenditure shall be disregarded.”. |